Baader Bank INC Buys 51,000 Shares of AT&T Inc. (NYSE:T)

Baader Bank INC grew its holdings in AT&T Inc. (NYSE:TGet Rating) by 22.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 281,338 shares of the technology company’s stock after purchasing an additional 51,000 shares during the quarter. Baader Bank INC’s holdings in AT&T were worth $6,648,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. SWS Partners purchased a new stake in shares of AT&T in the first quarter worth approximately $25,000. KRS Capital Management LLC purchased a new stake in shares of AT&T in the fourth quarter worth approximately $27,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in shares of AT&T in the first quarter worth approximately $27,000. Cordant Inc. purchased a new stake in shares of AT&T in the first quarter worth approximately $31,000. Finally, SBK Financial Inc. purchased a new stake in shares of AT&T in the fourth quarter worth approximately $35,000. 52.88% of the stock is owned by institutional investors and hedge funds.

AT&T Trading Down 3.2 %

Shares of T stock opened at $16.83 on Wednesday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.64 and a current ratio of 0.70. AT&T Inc. has a 52-week low of $16.62 and a 52-week high of $21.53. The company has a market capitalization of $119.93 billion, a PE ratio of 6.19, a price-to-earnings-growth ratio of 1.83 and a beta of 0.48. The business’s fifty day moving average is $18.58 and its 200 day moving average is $20.36.

AT&T (NYSE:TGet Rating) last issued its quarterly earnings data on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.04. AT&T had a return on equity of 13.11% and a net margin of 13.41%. The company had revenue of $29.64 billion for the quarter, compared to the consensus estimate of $29.48 billion. During the same quarter last year, the business posted $0.89 earnings per share. The firm’s revenue was down 17.1% compared to the same quarter last year. On average, equities research analysts anticipate that AT&T Inc. will post 2.53 EPS for the current fiscal year.

AT&T Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Monday, July 11th were given a $0.2775 dividend. The ex-dividend date of this dividend was Friday, July 8th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.60%. AT&T’s dividend payout ratio (DPR) is presently 40.81%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on T shares. Truist Financial reduced their target price on AT&T to $21.00 in a report on Friday, July 22nd. Barclays lowered AT&T from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $22.00 to $20.00 in a report on Friday, July 22nd. Moffett Nathanson reduced their target price on AT&T from $19.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday, August 18th. Wolfe Research reduced their target price on AT&T from $27.00 to $22.00 and set a “peer perform” rating for the company in a report on Thursday, June 2nd. Finally, Cowen reduced their target price on AT&T from $27.00 to $24.00 and set a “market perform” rating for the company in a report on Friday, July 22nd. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Hold” and an average price target of $23.78.

About AT&T

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.

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Institutional Ownership by Quarter for AT&T (NYSE:T)

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